Gorman Rupp Correlations

GRC Stock

USD 37.53 0.49 1.32%

The current 90-days correlation between Gorman Rupp and Standex International is 0.56 (i.e., Very weak diversification). The correlation of Gorman Rupp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Gorman Rupp Correlation With Market

Very weak diversification

The correlation between Gorman Rupp and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gorman Rupp and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gorman Rupp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade Gorman Stock refer to our How to Trade Gorman Stock guide.

Moving together with Gorman Stock

0.73	EPAC	Enerpac Tool Group	Pair Corr
0.77	FELE	Franklin Electric	Pair Corr
0.64	AME	Ametek Inc	Pair Corr
0.72	GGG	Graco Inc Sell-off Trend	Pair Corr
0.77	ITW	Illinois Tool Works	Pair Corr
0.72	SXI	Standex International	Pair Corr
0.69	THR	Thermon Group Holdings	Pair Corr

Moving against Gorman Stock

0.61

Richtech Robotics Class Buyout Trend

Pair Corr

Related Correlations Analysis

	SXI	FELE	OFLX	CYD	IEX	WTS	DCI	EPAC	CR	LXFR
SXI		0.54	0.5	-0.52	0.56	0.41	0.63	0.61	0.47	0.57	SXI
FELE	0.54		0.02	0.27	-0.05	0.85	0.6	0.9	0.56	0.39	FELE
OFLX	0.5	0.02		-0.61	0.64	0.01	0.3	0.04	-0.12	0.11	OFLX
CYD	-0.52	0.27	-0.61		-0.78	0.28	-0.18	0.09	-0.17	-0.44	CYD
IEX	0.56	-0.05	0.64	-0.78		-0.12	0.45	0.09	0.19	0.44	IEX
WTS	0.41	0.85	0.01	0.28	-0.12		0.65	0.79	0.54	0.41	WTS
DCI	0.63	0.6	0.3	-0.18	0.45	0.65		0.72	0.63	0.6	DCI
EPAC	0.61	0.9	0.04	0.09	0.09	0.79	0.72		0.64	0.44	EPAC
CR	0.47	0.56	-0.12	-0.17	0.19	0.54	0.63	0.64		0.8	CR
LXFR	0.57	0.39	0.11	-0.44	0.44	0.41	0.6	0.44	0.8		LXFR
	SXI	FELE	OFLX	CYD	IEX	WTS	DCI	EPAC	CR	LXFR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EPAC	+ 0.9	FELE
WTS	+ 0.85	FELE
LXFR	+ 0.8	CR
EPAC	+ 0.79	WTS
EPAC	+ 0.72	DCI
DCI	+ 0.65	WTS

High negative correlations

IEX	- 0.78	CYD
CYD	- 0.61	OFLX
CYD	- 0.52	SXI
LXFR	- 0.44	CYD
DCI	- 0.18	CYD
CR	- 0.17	CYD

Risk-Adjusted Indicators

There is a big difference between Gorman Stock performing well and Gorman Rupp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gorman Rupp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SXI	1.35	(0.21)	0.00	(0.35)	0.00	0.00	2.23	(3.64)	7.91
FELE	1.03	(0.04)	0.00	(0.15)	0.00	0.00	2.00	(1.71)	8.22
OFLX	1.65	(0.13)	0.00	(0.37)	0.00	0.00	2.92	(3.12)	9.62
CYD	5.09	1.63	0.31	10.28	4.50	(6.17)	15.80	(10.50)	36.75
IEX	1.14	(0.25)	0.00	(0.51)	0.00	0.00	1.95	(2.43)	12.03
WTS	1.22	0.05	0.00	(0.05)	0.00	0.00	2.23	(2.46)	10.44
DCI	0.97	(0.02)	0.00	(0.12)	0.00	0.00	1.91	(2.15)	4.34
EPAC	1.34	(0.07)	0.00	(0.18)	0.00	0.00	2.21	(2.97)	6.65
CR	1.46	(0.03)	0.00	(0.12)	0.00	0.00	2.75	(3.24)	16.18
LXFR	1.69	(0.14)	0.00	(0.25)	0.00	0.00	2.60	(4.10)	11.40

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